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NEW YORK (TheStreet) -- Shares of Kinross Gold (KGC) were sliding in early afternoon trade on Wednesday as gold prices fell.

For December delivery, gold was down 0.32% to $1,312.30 per ounce on the COMEX.

Earlier today, AutomaticData Processing (ADP) released its private-sector jobs report for August, revealing that employers added 177,000 jobs for the month.

Analysts had been looking for a gain of 175,000 jobs, MarketWatch reports.

The data followed the Federal Reserve Vice Chairman Stanley Fischer's comments yesterday that the central bank would determine the pace and size of upcoming interest rate hikes on the strength of the economy.

A solid growth in private-sector jobs for the month could help push the Fed to increase rates sooner, according to MarketWatch.

Gold fares poorly when interest rates are increased as investors look for yield-providing assets.

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The Labor Department will release its own August jobs report on Friday, which could give more cues as to the size and timing of future hikes.

Kinross Gold is a Toronto-based gold mining company.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "hold" with a ratings score of C.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the growth in the company's net income has been quite unimpressive.

You can view the full analysis from the report here: KGC

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